Question

A saving account pays 3.6% per annum simple interest Heidi puts £400 into the account, how much will she have in the account after 5 years?

Answer 1

One year:
0.036(400)+400
Because it is 5 years:
5(0.036(400))+400
0.18(400)+400
We can make it simpler:
1.18(400)
Multiply
472
SHE WILL HAVE £472